Bristol-Myers Squibb Company

BMY · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987
Valuation
Market cap	$109,809	$114,714	$104,403	$152,977	$138,395	$137,685	$142,479	$84,842	$100,297	$97,667	$114,761	$97,813	$87,379	$54,425	$59,908	$45,360	$49,844	$45,965	$52,244	$51,587	$44,857	$49,754	$55,398	$46,235	$98,940	$138,336	$121,262	$126,592	$89,740	$52,108	$41,371	$28,056	$28,601	$32,843	$43,633	$33,191	$28,158	$22,509	$21,168
Enterprise value	$146,308	$155,108	$133,642	$184,498	$167,085	$173,587	$174,724	$83,528	$101,553	$98,195	$117,338	$98,341	$91,276	$59,005	$56,577	$43,429	$47,632	$44,406	$56,291	$55,009	$47,653	$52,626	$58,590	$49,886	$99,697	$136,449	$120,079	$126,194	$90,106	$51,906	$40,936	$27,783	$26,945	$31,257	$42,886	$33,223	$28,166	$20,960	$19,515
P/E (TTM) at period end	15.57×	–	13.01×	24.18×	19.79×	–	41.43×	17.24×	99.60×	21.91×	73.33×	48.81×	34.09×	27.78×	16.19×	14.68×	4.72×	8.76×	24.13×	32.55×	14.95×	20.84×	17.84×	21.64×	20.47×	29.36×	29.10×	40.30×	28.00×	18.28×	22.83×	15.23×	14.60×	16.74×	21.22×	18.99×	37.69×	17.95×	19.82×
P/S (TTM) at period end	2.28×	2.38×	2.32×	3.31×	2.98×	3.24×	5.45×	3.76×	4.83×	5.03×	6.93×	6.16×	5.33×	3.09×	2.82×	2.33×	2.65×	2.59×	3.35×	2.88×	2.34×	2.57×	2.65×	2.55×	5.09×	7.59×	6.00×	6.92×	5.37×	3.46×	3.01×	2.34×	2.51×	2.94×	3.91×	3.22×	3.06×	2.63×	2.80×
P/B at period end	5.94×	7.02×	3.55×	4.93×	3.85×	3.64×	2.76×	6.05×	8.54×	6.04×	8.04×	6.59×	5.77×	4.00×	3.75×	2.89×	3.36×	3.76×	4.95×	5.16×	4.00×	4.88×	5.66×	5.28×	10.90×	15.07×	14.03×	16.71×	12.43×	7.93×	7.11×	4.92×	4.82×	5.46×	7.53×	6.13×	5.54×	4.55×	4.45×
EV / EBITDA (TTM)	8.25×	10.02×	7.44×	9.52×	8.69×	13.82×	22.81×	14.52×	23.98×	20.25×	55.72×	45.09×	24.71×	12.79×	7.99×	6.76×	8.06×	7.95×	13.83×	16.60×	10.21×	9.79×	10.24×	10.32×	16.94×	20.27×	20.29×	24.84×	17.92×	11.61×	10.08×	7.83×	9.94×	13.86×	14.24×	12.62×	22.02×	–	–
EV / Sales (TTM)	3.04×	3.21×	2.97×	4.00×	3.60×	4.08×	6.68×	3.70×	4.89×	5.05×	7.09×	6.19×	5.57×	3.35×	2.66×	2.23×	2.53×	2.51×	3.60×	3.07×	2.48×	2.72×	2.80×	2.75×	5.13×	7.49×	5.94×	6.90×	5.40×	3.45×	2.97×	2.32×	2.36×	2.80×	3.84×	3.23×	3.07×	2.45×	2.58×
Returns
Return on equity	38.2%	(54.8%)	27.3%	20.4%	19.5%	(23.8%)	6.7%	35.1%	8.6%	27.6%	11.0%	13.5%	16.9%	14.4%	23.2%	19.7%	71.1%	42.9%	20.5%	15.9%	26.8%	23.4%	31.7%	24.4%	53.3%	51.3%	48.2%	41.5%	44.4%	43.4%	31.1%	32.3%	33.0%	32.6%	35.5%	32.3%	14.7%	25.3%	22.5%
Return on invested capital	18.7%	10.3%	13.1%	11.9%	10.9%	2.9%	4.7%	29.1%	4.6%	18.1%	7.3%	8.5%	13.1%	20.3%	32.1%	27.6%	31.9%	35.3%	19.1%	12.0%	17.8%	17.4%	22.9%	25.1%	50.0%	59.7%	50.0%	46.9%	41.8%	44.1%	50.6%	42.8%	42.7%	34.2%	39.0%	30.4%	12.4%	34.6%	31.0%
Dividend yield	4.6%	4.2%	4.5%	3.0%	3.2%	3.0%	1.9%	3.1%	2.6%	2.6%	2.2%	2.5%	2.6%	4.2%	3.8%	4.9%	5.0%	5.4%	4.2%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Financial health
Current ratio	1.26×	1.25×	1.43×	1.25×	1.52×	1.58×	1.60×	1.66×	1.55×	1.55×	1.30×	1.73×	1.52×	1.15×	1.97×	1.97×	2.21×	2.19×	1.20×	1.59×	1.78×	1.50×	1.61×	1.19×	1.19×	1.74×	1.67×	1.52×	1.54×	1.49×	1.46×	1.57×	2.14×	2.01×	2.02×	2.01×	2.09×	2.08×	2.35×
Debt / equity	2.44×	3.04×	1.35×	1.27×	1.24×	1.34×	0.91×	0.52×	0.68×	0.41×	0.47×	0.53×	0.55×	0.54×	0.34×	0.35×	0.43×	0.55×	0.59×	0.74×	0.77×	1.01×	0.89×	0.87×	0.71×	0.16×	0.21×	0.24×	0.25×	0.23×	0.21×	0.24×	0.13×	0.09×	0.12×	0.12×	0.10×	0.19×	0.15×
Effective tax rate	24.4%	(6.6%)	4.7%	17.7%	13.4%	(30.9%)	30.5%	17.1%	81.0%	23.8%	21.5%	14.8%	10.8%	(6.9%)	24.7%	25.7%	21.1%	22.8%	18.7%	22.4%	20.2%	34.4%	25.9%	14.2%	3.3%	25.2%	26.5%	24.4%	28.5%	29.0%	24.6%	27.9%	23.8%	22.6%	28.8%	30.7%	41.5%	33.6%	34.4%
Share count
Diluted shares outstanding	2,039	2,027	2,078	2,146	2,245	2,258	1,712	1,637	1,652	1,680	1,679	1,670	1,662	1,688	1,717	1,727	1,978	2,001	1,980	1,963	1,983	1,976	1,950	2,016	1,965	1,997	2,027	2,031	2,042	2,036	2,032	2,036	2,062	2,044	2,077	2,081	2,075	2,090	2,136

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987
Revenue and gross profit
Revenue	$49,186	$48,194	$48,300	$45,006	$46,159	$46,385	$42,518	$26,145	$22,561	$20,776	$19,427	$16,560	$15,879	$16,385	$17,621	$21,244	$19,484	$18,808	$17,715	$15,617	$17,914	$19,207	$19,380	$20,894	$18,119	$19,423	$18,216	$20,222	$18,284	$16,701	$15,065	$13,767	$11,984	$11,413	$11,156	$11,159	$10,300	$9,189	$8,558	$7,558
Cost of revenue	($14,679)	($13,936)	($13,968)	($10,693)	($10,137)	($9,940)	($11,773)	($8,078)	($6,467)	($6,066)	($4,946)	($3,909)	($3,932)	($4,619)	($4,610)	($5,598)	($5,277)	($5,140)	($5,316)	($4,919)	–	–	($5,989)	–	($6,532)	–	($4,759)	–	–	($3,873)	($3,446)	($3,189)	($2,794)	($2,721)	($2,562)	($2,684)	($2,630)	($2,460)	($2,299)	($2,141)
Gross profit	$34,507	$34,258	$34,332	$34,313	$36,022	$36,445	$30,745	$18,067	$16,094	$14,682	$14,481	$12,651	$11,947	$11,766	$13,011	$15,646	$14,207	$13,668	$12,399	$10,698	–	–	$13,391	–	$11,574	–	$13,457	–	–	$12,828	$11,619	$10,578	$9,190	$8,692	$8,594	$8,475	$7,670	$6,729	$6,259	$5,417
Operating expenses
Research and development	($10,722)	($9,951)	($11,159)	($9,299)	($9,509)	($10,195)	($10,048)	($6,148)	($6,332)	($6,468)	($5,012)	($5,920)	($4,534)	($3,731)	($3,904)	($3,839)	($3,566)	($3,647)	($3,512)	($3,160)	($2,991)	($2,678)	($2,500)	($2,279)	($2,206)	($2,183)	($1,939)	($1,759)	($1,506)	($1,385)	($1,276)	($1,199)	($1,108)	–	–	–	–	–	–	–
Selling, general and administrative	($7,413)	($7,267)	($8,414)	($7,772)	($7,814)	($7,690)	($7,661)	($4,871)	($4,551)	($4,751)	($4,979)	($4,841)	($4,822)	($4,939)	($4,220)	($4,203)	($3,686)	($3,946)	($4,140)	($3,941)	($6,140)	($6,453)	($6,427)	($6,035)	($5,267)	($5,193)	($5,532)	($5,338)	($5,203)	($6,414)	($5,871)	($5,316)	($4,533)	($5,981)	($6,339)	($5,463)	($5,037)	($5,450)	($4,304)	($3,789)
Total operating expenses	($20,665)	($20,534)	($28,445)	($26,118)	($26,918)	($27,908)	($28,568)	($12,154)	($10,980)	($11,236)	($10,014)	($10,921)	($10,233)	($8,835)	($9,079)	($9,009)	($8,257)	($8,229)	($7,376)	($7,170)	–	–	($8,927)	–	($7,473)	–	($7,471)	–	–	($8,390)	($7,666)	($6,963)	($5,969)	($6,289)	($6,634)	($5,709)	($5,281)	($5,646)	($4,489)	($3,950)
Total costs and expenses	($35,344)	($34,470)	($42,413)	($36,811)	($37,055)	($37,848)	($40,341)	($20,232)	($17,447)	($17,330)	($14,960)	($14,830)	($14,165)	($13,454)	($13,689)	($14,607)	($13,534)	($13,369)	($12,692)	($12,089)	($15,528)	($15,470)	($14,916)	($15,961)	($14,018)	($14,265)	($12,230)	($14,983)	($13,828)	($12,263)	($11,112)	($10,152)	($8,763)	($9,010)	($9,196)	($8,393)	($7,911)	($8,106)	($6,788)	($6,091)
Operating income	$13,842	$13,724	$5,887	$8,195	$9,104	$8,537	$2,177	$5,913	$5,114	$3,446	$4,467	$1,730	$1,714	$2,931	$3,932	$6,637	$5,950	$5,439	$5,023	$3,528	$2,386	$3,737	$4,464	$4,933	$4,101	$5,158	$5,986	$5,239	$4,456	$4,438	$3,953	$3,615	$3,221	$2,403	$1,960	$2,766	$2,389	$1,083	$1,770	$1,467
Earnings
EBITDA	$17,018	$17,735	$15,487	$17,955	$19,380	$19,223	$12,557	$7,659	$5,751	$4,235	$4,849	$2,106	$2,181	$3,694	$4,613	$7,085	$6,423	$5,908	$5,585	$4,070	$3,313	$4,666	$5,373	$5,722	$4,836	$5,886	$6,732	$5,917	$5,081	$5,029	$4,472	$4,063	$3,549	$2,711	$2,255	$3,012	$2,633	$1,279	–	–
Interest income	$514	$586	$478	$449	$171	$39	$121	$464	$173	$126	$97	$101	$101	$104	$106	$91	$75	$54	$130	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($1,730)	($1,891)	($1,947)	($1,166)	($1,232)	($1,334)	($1,420)	($656)	($183)	($196)	($167)	($184)	($203)	($199)	($182)	($145)	($145)	($184)	($310)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$11,910	$9,328	($8,379)	$8,440	$7,713	$8,098	($6,871)	$4,975	$5,968	$5,131	$5,915	$2,077	$2,381	$2,891	$2,340	$6,981	$6,071	$5,602	$4,776	$2,523	$2,400	$4,304	$4,418	$4,680	$2,761	$2,218	$5,478	$5,158	$3,638	$4,482	$4,013	$2,402	$2,555	$2,571	$1,987	$2,887	$2,524	$1,277	$1,889	$1,628
Income tax expense	($2,634)	($2,272)	($554)	($400)	($1,368)	($1,084)	($2,124)	($1,515)	($1,021)	($4,156)	($1,408)	($446)	($352)	($311)	$161	($1,721)	($1,558)	($1,182)	($1,090)	($471)	($538)	($870)	($1,519)	($1,210)	($391)	($73)	($1,382)	($1,369)	($888)	($1,277)	($1,163)	($590)	($713)	($612)	($449)	($831)	($776)	($530)	($635)	($560)
Net income	$9,282	$7,054	($8,948)	$8,025	$6,327	$6,994	($9,015)	$3,439	$4,920	$1,007	$4,457	$1,565	$2,004	$2,563	$1,960	$3,709	$3,102	$10,612	$5,247	$2,165	$1,585	$3,000	$2,388	$3,106	$2,137	$4,834	$4,711	$4,167	$3,141	$3,205	$2,850	$1,812	$1,842	$1,959	$1,962	$2,056	$1,748	$747	$1,254	$1,068
Per share
Diluted EPS (GAAP)	$4.54	$3.46	($4.41)	$3.86	$2.95	$3.12	($3.99)	$2.01	$3.01	$0.61	$2.65	$0.93	$1.20	$1.54	$1.16	$2.16	$1.79	$5.34	$2.62	$1.09	$0.81	$1.51	$1.21	$1.59	$1.02	$2.67	$2.36	$2.06	$1.55	$1.57	$1.40	$0.89	$0.90	$0.95	$0.96	$0.99	$0.84	$0.36	$0.60	$0.50
Basic EPS (GAAP)	$4.54	$3.47	($4.41)	$3.88	$2.97	$3.15	($3.99)	$2.02	$3.01	$0.61	$2.67	$0.94	$1.21	$1.56	$1.17	$2.18	$1.80	$5.35	$2.64	$1.09	$0.81	$1.54	$1.23	$1.60	$1.03	$2.70	$2.40	$2.10	$1.58	$1.61	$1.42	$0.90	$0.90	$0.95	$0.96	$0.99	$0.84	$0.36	$0.60	$0.50
Basic shares outstanding	2,039	2,034	2,027	2,069	2,130	2,221	2,258	1,705	1,633	1,645	1,671	1,667	1,657	1,644	1,670	1,700	1,713	1,974	1,977	1,970	1,960	1,952	1,942	1,937	1,997	1,940	1,965	1,984	1,987	1,992	2,008	2,024	2,036	2,062	2,044	2,077	2,081	2,075	2,090	2,136
Margins
Gross margin	70.2%	71.1%	71.1%	76.2%	78.0%	78.6%	72.3%	69.1%	71.3%	70.7%	74.5%	76.4%	75.2%	71.8%	73.8%	73.6%	72.9%	72.7%	70.0%	68.5%	–	–	69.1%	–	63.9%	–	73.9%	–	–	76.8%	77.1%	76.8%	76.7%	76.2%	77.0%	75.9%	74.5%	73.2%	73.1%	71.7%
Operating margin	28.1%	28.5%	12.2%	18.2%	19.7%	18.4%	5.1%	22.6%	22.7%	16.6%	23.0%	10.4%	10.8%	17.9%	22.3%	31.2%	30.5%	28.9%	28.4%	22.6%	13.3%	19.5%	23.0%	23.6%	22.6%	26.6%	32.9%	25.9%	24.4%	26.6%	26.2%	26.3%	26.9%	21.1%	17.6%	24.8%	23.2%	11.8%	20.7%	19.4%
Net margin	18.9%	14.6%	(18.5%)	17.8%	13.7%	15.1%	(21.2%)	13.2%	21.8%	4.8%	22.9%	9.5%	12.6%	15.6%	11.1%	17.5%	15.9%	56.4%	29.6%	13.9%	8.8%	15.6%	12.3%	14.9%	11.8%	24.9%	25.9%	20.6%	17.2%	19.2%	18.9%	13.2%	15.4%	17.2%	17.6%	18.4%	17.0%	8.1%	14.7%	14.1%

Analyst consensus

Hold42 analysts

Bearish · 2 · Hold · 21 · Bullish · 19

Earnings history

	EPS	Estimate
Q3 2024	$1.80	$1.49	Beat
Q4 2024	$1.67	$1.47	Beat
Q1 2025	$1.80	$1.49	Beat
Q2 2025	$1.46	$1.09	Beat
Q3 2025	$1.63	$1.52	Beat
Q4 2025	$1.26	$1.23	Beat
Q1 2026	$1.58	$1.42	Beat
Q2 2026	$2.04	$1.60	Beat

Peers

Company overview

IPO dateJun 1, 1972

CEOChristopher Boerner

Employees32,500

SectorHealthcare

IndustryDrug Manufacturers - General

CountryUS

ExchangeNew York Stock Exchange

Websitewww.bms.com

Bristol-Myers Squibb Company operates as a global biopharmaceutical entity, actively involved in the research, development, licensing, production, and worldwide commercialization of its medicinal portfolio. The company's therapeutic areas span hematology, oncology, cardiovascular health, immunology, fibrotic conditions, neuroscience, and infectious diseases like COVID-19. Its significant pharmaceutical offerings include Revlimid, an oral immunomodulatory agent for multiple myeloma, and Eliquis, an oral anticoagulant crucial for reducing stroke risk and systemic embolism in non-valvular atrial fibrillation, as well as treating deep vein thrombosis and pulmonary embolism. The portfolio also features Opdivo, utilized across various anti-cancer indications; Pomalyst/Imnovid, prescribed for multiple myeloma patients; and Orencia, targeting active rheumatoid arthritis and psoriatic arthritis in adults. Other key therapies are Sprycel, employed in the management of Philadelphia chromosome-positive chronic myeloid leukemia; Yervoy, indicated for patients with unresectable or metastatic melanoma; and Abraxane, a protein-bound chemotherapy formulation. Furthermore, Bristol-Myers Squibb offers Reblozyl, addressing anemia in adult patients with beta thalassemia; Empliciti, another treatment option for multiple myeloma; and Zeposia, designed to treat relapsing forms of multiple sclerosis. Revolutionary treatments like Breyanzi, a CD19-directed genetically modified autologous T cell immunotherapy for adult patients battling relapsed or refractory large B-cell lymphoma, are also part of its lineup. Completing its product range are Inrebic, an oral kinase inhibitor specifically for adult myelofibrosis, and Onureg, used in the treatment of adult patients with acute myeloid leukemia (AML). Bristol-Myers Squibb distributes its pharmaceutical products through a diverse network encompassing wholesalers, distributors, pharmacies, retail outlets, hospitals, clinics, and governmental organizations. Founded in 1887 and formerly known as Bristol-Myers Company, the firm maintains its headquarters in New York, New York.

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